Scan 0010

1
        Answer:
        Equivalent units of production (EUP) -Weighted average method
        All direct materials are added to he products when processing begins
            Units    % materials    EUP - materials
        Goods completed    88000    100%    88000
        Ending WIP    17900    100%    17900
        Total EUP    105900        105900
        Beginning inventory is 30% complete as to materials and conversion costs. Ending inventory is 75% complete as to materials and conversion costs
            Units    % materials    EUP - materials
        Goods completed    88000    100%    88000
        Ending WIP    17900    75%    13425
        Total EUP    105900        101425
        Beginning inventory is 70% complete as to materials and conversion costs. Ending inventory is 30% complete as to materials and conversion costs
            Units    % materials    EUP - materials
        Goods completed    88000    100%    88000
        Ending WIP    17900    20%    3580
        Total EUP    105900        91580
2
        Answer:
        Equivalent units of production (EUP) -FIFO method
        All direct materials are added to products when processing begins
            Units    % materials    EUP - materials
        To complete beginning WIP    35200    0%    0
        Units started and completed    52800    100%    52800
        Ending WIP    17900    100%    17900
        Total EUP    105900        70700
        Beginning inventory is 30% Ending is 75% complete
            Units    % materials    EUP - materials
        To complete beginning WIP    35200    70%    24640
        Units started and completed    52800    100%    52800
        Ending WIP    17900    75%    13425
        Total EUP    105900        90865
        Beginning inventory - 709% ending 20%
            Units    % materials    EUP - materials
        To complete beginning WIP    35200    30%    10560
        Units started and completed    52800    100%    52800
        Ending WIP    17900    50%    8950
        Total EUP    105900        72310
3
        Calculate the equivalent units of production for the forming deparment
        Direct materials    392000
        Conversion    376000
        Calculate the cost per equivalent unit of production for the forming department
        Direct materials    3.80
        Conversion    2.70
        Cost assignment and reconcilaitaion
        Cost of units trasfe
ed out    EUP    Cost per EUP    Total cost
        Direct materials    358000    3.80    1360400
        Conversion    358000    2.70    966600
        Total cost transfe
ed out                2327000
        Costs of ending WIP
        Direct materials    34000    3.80    129200
        Conversion    18000    2.70    48600
        Total costs of ending WIP                177800
        Total cost assigned                2504800
4
        Calculate the equivalent units of production for the forming deparment
        Direct materials    372400
        Conversion    356400
        Calculate the cost per equivalent unit of production for the forming department
        Direct materials    4.00
        Conversion    2.85
        Cost assignment and reconcilaitaion
        Cost of units trasfe
ed out    EUP    Cost per EUP    Total cost
        Direct materials    338400    4.00    1353600
        Conversion    338400    2.85    963927.272727273
        Total cost transfe
ed out                2317527.27272727
        Costs of ending WIP
        Direct materials    34000    4.00    136000
        Conversion    18000    2.85    51273
        Total costs of ending WIP                187273
        Total cost assigned                2504800
5
        units trasfe
ed    370000
        Equivalent units    Units    % materials    EUP - materials    % conversion    EUP - conversion
        Units completed and trasfe
ed out    370000    100%    370000    100%    370000
        Units of ending goods in process    96000    90%    86400    40%    38400
        EUP    466000        456400        408400
6
        Equivalent units of production - Weighted average
            Units    % materials    EUP - materials    % conversion    EUP - conversion
        Units completed during the period    370000    100%    370000    100%    370000
        Ending WIP    96000    90%    86400    40%    38400
        EUP    466000        456400        408400
        Cost per EUP            Materials        Conversion
        Cost of beginning inventory            200420        18532
        Cost incu
ed during the period            1191600        818688
        Total costs            1392020        837220
        Equivalent units of production            456400        408400
        Cost per EUP            3.05        2.05
        Total costs to account fo
        Direct materials, beginning    200420
        Conversion cost, beginning    18532
        Direct materials, cu
ent period    1191600
        Conversion cost, cu
ent period    818688
        Total costs to account for    2229240
        Cost Assignment and Reconcilation    EUP    Cost per EUP    Total cost
        cost of units trasfe
ed out
        Direct materials    370000    3.05    1128500
        Conversion    370000    2.05    758500
        Total costs trasfe
ed out            1887000
        Cost of ending work in process
        Direct materials    86400    3.05    263520
        Conversion    38400    2.05    78720
        Total cost of Ending WIP            342240
        Total cost accounted for                2229240
7
        Equivalent unist of production - FIFO
            units    % materials    EUP-materials    % conversion    EUP conversion
        Beginning    74000    20%    14800    80%    59200
        Started and complated    296000    100%    296000    100%    296000
        Ending WIP    96000    90%    86400    40%    38400
        EUP            397200        393600
8
        Equivalent units of production - FIFO method
            Units    % materials    EUP - materials    % conversion    EUP - conversion
        Beginning    74000    20%    14800    80%    59200
        Started and complated    296000    100%    296000    100%    296000
        Ending WIP    96000    90%    86400    40%    38400
        EUP            397200        393600
        Cost per EUP            Materials        Conversion
        Cost of beginning inventory            200420        18532
        Cost incu
ed during the period            1191600        818688
        Total costs            1392020        837220
        Equivalent units of production            397200        393600
        Cost per EUP            3.50        2.13
        Total costs to account fo
        Direct materials, beginning    200420
        Conversion cost, beginning    18532
        Direct materials, cu
ent period    1191600
        Conversion cost, cu
ent period    818688
        Total costs to account for    2229240
        Cost Assignment and Reconcilation    EUP    Cost per EUP    Total cost
        Assignment of costs to output of department
        Cost of 74000 units from beginning inventory
        Beginning inventory
            EUP    Cost per EUP    Total cost
        Materials to complete    14800    3.50    51868
        Conversion to complete    59200    2.13    125923
        Total costs to complete            177791
        Total cost of 74000 units in beginning inventory            218952
        Cost of units started and completed this oeriod
        Direct materials    296000    3.50    1037356
        Conversion costs    296000    2.13    629617
        Total costs of 296000 units started and completed            1666973
        Total cost of 370000 units transfe
ed out
        Costs of ending inventory
        Direct materials    86400    3.50    302795.891238671
        Conversion costs    38400    2.13    81680
        Total cost of 96000 units in ending inventory            384475.891238671
        Total cost assigned                2229240
            296000    3.5045820745    1037356.29405841
            296000    2.1270833333    629616.666666667
                    1666972.96072508
            86400    3.5045820745    302795.891238671
            38400    2.1270833333    81680
                    384475.891238671
                        2051448.85196375
9
        Costs charged to production
        Cost of beginning goods in process    37210
        Costs incu
ed this period    840100
        Total costs to account for    877310
        Total costs accounted for    877310
        Difference    0
        Unit...